Thin Film Materials Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1599
Thin Film Materials Market size is estimated to grow at a significant CAGR in the forecast period. Miniaturization in technology is expected to be the major reason for the boom of the product industry. The increasing applications and end-use industries are expected to propel the growth of the product market.
Government funding and subsidies provided to the thin film manufacturing companies is also a factor which will drive the demand of the product over the forecast timeframe. The issues stemming from abrupt climate changes has drawn the attention of governments towards renewable resources. Thin films are highly reliable and efficient.
Advancements in semiconductor packaging have driven the demand for the product market. Current application such as microelectromechanical systems (MEMS), solar cells, semiconductors, etc. have created a positive impact on the product market. Rising installations of solar panels have triggered the demand for the product. Development of infrastructure will also boost the demand for the product over the forecast period.
The factors which can obstruct the growth of the market are the low conversion efficiency and high investments required for research and development. Availability of raw materials in the global market can pose a challenge to the growth of the product market.
Thin films are layers of material which can be of different thickness ranging from nanometers to micrometers. These are widely used in electronic semiconductor devices, magnetic recording media, LEDs, coatings on cutting tools, optical coatings, etc. There are several methods for deposition of thin films onto a substrate. The thin films offer many advantages such as ability to operate under low light and flexibility. They are suitable for high frequency applications and are also used wherever precision resistors are required. Thin film technology is widely used to manufacture sensors, plastic film capacitors, packaging films, night vision camera, etc.
The product market can be segmented on the basis of deposition method, material, application and region. Based on deposition method, the market can be bifurcated into chemical deposition and physical deposition. Chemical deposition can be further segmented into chemical vapor deposition (CVD), plasma enhanced CVD, atomic layer deposition and chemical solution deposition. Physical deposition can be segmented into sputtering, pulsed laser deposition, cathodic arc deposition and thermal evaporation.
Based on materials, the product market can be divided into cadmium telluride, copper indium gallium selenide and amorphous silica. Based on applications, the product market can be segmented into protective coatings, decorative coatings, optical coatings, thin film photovoltaic cells and thin film batteries. Thin films have substantially reduced the cost of solar cells.
Based on region, the product market can be divided into Europe, Asia Pacific, North America, Latin America and Middle East & Africa. Asia Pacific dominates the product market owing to the high demand of the product in coatings industry. Countries like China, Japan and South Korea are anticipated to exhibit high demand for thin film materials. Exhaustible resources can further add to the growth of the product market. The U.S. accounted for a significant demand for the product due to the increasing end-use industries. The increasing demand for the product in automobile industry is the driving force for the product market in Europe. However, rigorous regulations in European Union regarding paints and coatings industry can hamper the market.
The product market is highly competitive with major operating companies such as Dunmore Corporation, ACI Alloys, Inc., Indium Corporation, Victrex plc, Kaneka Corporation, KAMIS Inc., Materion Corporation, Umicore, Angstrom Engineering Inc., SENTECH Instruments GmbH, Super Conductor Materials, Inc., etc.
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